Sahaj Solar Limited IPO Detail
Sahaj Solar Limited was founded in 2010 and is a provider of renewable energy solutions.
The company has three business units:
- PV module manufacturing: The company's PV module manufacturing facility is located at Bavla, Ahmedabad, Gujarat. It is spread over an area of 2,883.77 square metres and has a building of 2445.5 square metres comprising both factory and office space. The plant has a capacity of 100 MW. The company's automated manufacturing facility offers mono and polycrystalline PV modules for various solar projects in India and abroad. The facility also manufactures a mono PERC (Passivated Emitter and Rear Contact) module.
- Provision of solar water pumping systems
- Providing EPC services to PAN India customers: This includes design, supply, installation, testing, commissioning and maintenance of projects of all sizes, from a simple domestic solar system to a large solar power plant set-up.
As of September 30, 2023, the company employed over 64 people in the areas of administration, accounting and finance, human resources, projects, procurement, operations manager, sales and marketing, production and operations, and top management.
Company Promoters
Pramit Bharatkumar Brahmbhatt, Varna Pramit Brahmbhatt, and Manan Bharatkumar BrahmbhattIPO Details
| IPO Opening Date | Jul 11, 2024 |
| IPO Closing Date | Jul 15, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹171 - 180 per equity share |
| Market Lot | 800 Shares |
| Min Order Quantity | 800 Shares |
| Listing At | NSE SME |
| Issue Size | ₹52.56 Cr |
| Fresh Issue | ₹52.56 Cr |
| Offer for Sale | - |
| Employee Discount | ₹Rs 15 |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.10x | 0.00x | 0.00x | 40.11x | 68.27x | 42.23x |
| Day 2 | 3.18x | 0.00x | 0.00x | 94.65x | 156.05x | 97.98x |
| Day 3 | 214.27x | 0.00x | 0.00x | 862.35x | 535.03x | 507.21x |
IPO Tentative Timetable
The Sahaj Solar Limited IPO open date is Jul 11, 2024, and the close date is Jul 15, 2024. The issue may list on Jul 19, 2024.
| IPO Open Date | Jul 11, 2024 |
| IPO Close Date | Jul 15, 2024 |
| Basis of Allotment Date | Jul 16, 2024 |
| Initiation of Refunds | Jul 18, 2024 |
| Credit of Shares to Demat Account | Jul 18, 2024 |
| IPO Listing Date | Jul 19, 2024 |
IPO Lot Size
The Sahaj Solar Limited IPO market lot size is 800 shares. A retail-individual investor can apply for up to 1 lots (800 shares or ₹144000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 800 | ₹144000 |
| Maximum | 1 | 800 | ₹144000 |
IPO Promoter Holding
| Pre Issue Share Holding | 97.09% |
| Post Issue Share Holding | 71.28% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 3463.94 | 6218.78 | 70.58 |
| 31-Mar-22 | 6103.22 | 6728.95 | 102.50 |
| 31-Mar-23 | 9081.50 | 18580.48 | 648.37 |
| 31-Mar-24 | 14936.40 | 20171.55 | 1337.29 |
Objects of the Issue:
The Company proposes to utilize the funds which are being raised through this Offer towards the following objects:
- Working Capital Requirements of the Company; and
- General Corporate Purposes.
Sahaj Solar Limited IPO Registrar:
KFin Technologies Limited
Sahaj Solar Limited IPO Lead Manager(s):
Kunvarji Finstock Pvt Ltd
Company Contact Information:
Sahaj Solar Limited
Office No. 301, Ashirvad Paras,
Opp. Prahladnagar Garden,
Satellite, Ahmedabad - 380051
